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Quebecor World to close two plants, cut 400 jobs

Thursday, November 09, 2006

Press release from the issuing company

Nov 8, 2006 -- Montréal, Canada – Quebecor World today announced a transformation plan for its U.S. Catalog Platform to create the highest value for its customers and to better position the company for future success in this important growth segment. Quebecor World’s 2007 Catalog transformation plan is based on the following principles: * Provide customers with a total print solution, before during and after print, encompassing premedia, mail list technologies, printing, logistics and interactive services * Provide customers with a coast-to-coast, state-of-the-art catalog platform * Consolidate the platform into more efficient facilities * Further automate facilities to provide the latest in press and bindery technology The Catalog transformation plan includes important investments in new press and bindery technology as well as the relocation of existing assets to Quebecor World’s facilities in Jonesboro, AR, Merced, CA and Corinth, MS. Central to the plan is the transformation of the Corinth plant into a dual-process, premier rotogravure and offset catalog facility. Corinth has a long, rich history and a dedicated, experienced workforce with a track record of printing many high quality titles. Quebecor World will be installing additional gravure, offset and bindery equipment to expand and improve the facilities’ capabilities to provide complete print solutions to retailers and branded goods companies who employ catalogs as one of their important sales and marketing tools. “Catalog customers are demanding shorter cycle times, quality products, timely delivery and the efficient use of raw materials. This transformation plan will deliver complete print solutions to our customers as well as provide scale to reduce cycle times and maximize distribution savings by utilizing state-of-the-art equipment to reduce paper waste while producing a high quality product faster than ever before,” said Brian Freschi. Quebecor World’s coast-to-coast catalog platform enables it to create additional value for its customers and shareholders by: * Providing innovative ways to design, produce and deliver a catalog that gets attention, attracts and retains consumers, communicates a brand consistently across multiple channels and drives revenues * Maximizing asset utilization and increase efficiency provide customers access to the most efficient catalog production platform in the marketplace * Printing both rotogravure and offset in the same location * Driving postal discounts through economies of scale and strategic co-mail and value-added logistics solutions The transformation plan will result in the closing of a printing facility in Elk Grove Village, IL and a bindery facility in Bensenville, IL. This will affect approximately 400 employee positions. Current customer volume will be transferred within strategically located plants in Quebecor World’s catalog platform and is being coordinated with our customers through their normal sales representation. The closures are expected to be completed during the first quarter of 2007. The Company expects to create an additional 75 employee positions at its other facilities to accommodate additional volume.

 

 

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